Safehold reports Q3 EPS 33c ex items, consensus 34c

Reports Q3 revenue $85.6M, consensus $85.84M. Q3 EPS was ($1.81), including a loss of ($2.14) per share related to the non-cash full impairment of Goodwill related to the merger. “Amid ongoing uncertainty and volatility in the market, Safehold remains committed to making the modern ground lease an important tool to increase stability and resiliency in the real estate industry,” said Jay Sugarman, Chairman and CEO. “With $850M of available liquidity, a strong balance sheet and recent credit ratings upgrade to A3, we will be disciplined and opportunistic, looking to provide our customers with efficient capital as real estate activity resumes.”